US job openings dip to 9.6 million, lowest since 2021

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US job openings dip to 9.6 million, lowest since 2021
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U.S. job openings fell in March to the lowest level in nearly two years, a sign that the American labor market is cooling in the face of higher interest rates.

Employers posted 9.6 million vacancies in March, down from nearly 10 million in February and lowest since April 2021. The Labor Department's Job Openings and Labor Turnover Summary, out Tuesday, showed that layoffs rose to 1.8 million, the highest level since December 2020.

The job market is cooling but remains strong by historic standards. Monthly job openings had never exceeded 10 million until 2021, then reeled off 20 straight months above that threshold. The streak ended in February.

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